KKR's Kravis says Japanese groups 'fired up'

Buyout veteran says competition from South Korean and Chinese competitors is galvanizing Japanese companies into action.

Henry Kravis, KKR’s co-founder, said on Monday that he believes competition from South Korean and Chinese competitors is galvanizing Japanese companies into action and that means potentially more deals for private equity in the world’s third-biggest economy.

The US private equity group is trying to convince Japan’s conglomerates to sell it their non-core businesses and to join forces on overseas acquisitions. KKR is in talks to buy Panasonic's healthcare business, although a KKR spokesman...